GIFTING SHARES

PLEASE NOTE: YOU CANNOT VIEW THE INFORMATION ON THIS PAGE ON A SMART PHONE; HOWEVER, YOU CAN DOWNLOAD THE GIFTING PACKET. YOU WILL NEED TO USE A COMPUTER TO ACCESS INFORMATION AND THE INDIVIDUAL FORMS FOR GIFTING.

Giving the gift of Evansville, Inc. stock is a special way to share your Native heritage with loved ones. If you are interested in gifting shares please review the information on our website then download the gifting packet, reading all the information carefully before proceeding.

 

RULES OF GIFTING

Gifting of shares is referred to as Inter Vivos Transfer. Under the Alaska Native Claims Settlement Act (ANCSA) Amendments, shareholders are able to gift some or all of their shares as long as certain rules are followed:

  • The shareholder gifting the shares must be at least 18 years of age.

  • The shareholder gifting the shares cannot receive or be promised anything of value in exchange for the gift of shares.

  • The recipient of the shares must be Alaska Native or a descendant of a Native who is related by blood or adoption to the shareholder gifting the shares. A recipient need not have a particular blood quantum to be eligible to receive a gift of shares.

  • Shares gifted to a minor child (under 18 years of age) must have a custodian (usually a parent or legal guardian, or the donor of the gift) designated until the recipient turns 18.

  • Guardians or custodians are not eligible to gift shares on behalf of a shareholder.

Under ANCSA "Native" or "descendant of Native" are defined as follows:

Native - A citizen of the United States who is a person of one-fourth degree or more Alaska Indian (including Tsimshian Indians not enrolled in the Metlakatla Indian Community), Eskimo, or Aleut blood, or a combination thereof.

Descendant of a Native - A lineal descendant of a Native or of an individual who would have been a Native if such individual were alive on December 18, 1971; or an adoptee of a Native or of a descendant of a Native, whose adoption (A) occurred prior to his or her majority, and (B) is recognized at law or in equity.

            You can gift shares to:                             You cannot gift shares to:

                   Your child(ren)*                                            Your spouse

                   Your grandchild(ren)                                    Your parent(s)

                   Your great grandchild(ren)                           Your grandparent(s)

                   Your niece(s) or nephew(s)                          Your aunt(s), uncle(s), or cousins(s)

                   Your brother(s) or sister(s)                           Your friend(s)

                                                                                        Your stepchild(ren) or stepchild(ren) of your 

                                                                                         child(ren) or grandchild(ren)

                                          

 *Includes children legally adopted into your family, provided the adoption occurred before such children were 18 years of age and you are able to furnish the required substantiating documentation.

POINTS TO CONSIDER BEFORE GIFTING

  • The transfer of shares is irrevocable. Once you have gifted your shares you cannot change your mind and they cannot be gifted back to you.

  • Voting rights associated with any shares you transfer will belong to the person who receives the shares.

  • If you gift all of your shares, you will no longer be an Evansville, Inc. shareholder and will no longer be eligible to receive shareholder benefits.

  • The person receiving the shares has the right to will them to anyone. Should that person die without leaving a Will, his or her shares would not automatically go back to you.

  • Shareholders who have a hold or court order (i.e. child support, IRS garnishment, etc.) cannot gift their shares until the order is lifted and Evansville, Inc. has been legally notified.

 

STEPS FOR GIFTING

Please note: Gifting requests are valid for 90 days from the notarized date of the Inter Vivos Transfer of Shares Affidavit. Gift recipients must submit the notarized Acceptance of Inter Vivos Gift of Stock form and any other required documents within 90 days or the gifting process will not be completed.

Download and print the Gifting Packet which includes instructions and one copy of each of the required forms.

If you need any additional forms you can click on each individual one as needed.

 

 

 

1. Inter Vivos Transfer of Shares form. To be completed by gifter.

2. Family Tree form. To be completed by gifter.

3. Acceptance of Inter Vivos Gift of Stock form. Each recipient must complete a form.

4. Adult Social Security Number Verification form.  Each adult recipient must completer a form.

5. Child/Ward Social Security Number Verification form. Each child (under 18) recipient or ward must

          complete a form.

6. Consent to Appointment as Custodian form. A form for each child (under 18) recipient must be completed.

7. Return the completed packet to:          Evansville, Inc.

                                                                 P.O. Box 72579

                                                                 Fairbanks, AK 99707